What: The RH-ISAC CISO Benchmark Survey, conducted in partnership with Booz Allen Hamilton, reveals that a majority of Chief Information Security Officers (CISOs) anticipate increased budgets and staffing for cybersecurity in 2024, with a focus on vulnerability management and zero trust architecture.

Why it is important: This trend underscores a growing business recognition of cybersecurity risks and the need for enhanced program maturity amidst challenging budgetary conditions. It highlights the strategic areas where CISOs are investing resources to bolster security defenses against rising threats like Ransomware/Malware.

The 2024 outlook for cybersecurity within organizations appears promising, with 56% of CISOs expecting budget increases and 60% anticipating more full-time employees (FTEs). This optimism is part of a three-year trend, despite about 10% of CISOs bracing for budget cuts. The survey indicate a shift towards prioritizing vulnerability management and adopting zero trust architecture to mitigate threats effectively. Interestingly, there's a noted decrease in staff for Security Operations/Incident Response, which remains a highly outsourced service due to the demand for advanced security analytics and fraud detection.

The survey also provides guidance on budget allocation across various cybersecurity domains and suggests that CISOs expect to see improvements across all areas of their programs, especially in the "Recover" category of the NIST maturity analysis. Despite the potential of Generative AI as a business enabler, it poses significant concerns for security leaders, unlike the new SEC requirements, which seem to be of lesser worry as organizations review their existing plans with executive leadership.

This year's survey, with its highest participation rate yet, offer a comprehensive view of the current state and future directions of cybersecurity efforts across different sectors, emphasizing the critical role of CISOs in navigating the evolving landscape of digital threats and regulatory requirements.

2024 CISO Benchmark report